FAQs on KYC guidelines by RBI

RBI has issued fresh FAQs on Know Your Customer (KYC) guidelines. (Updated up to September 02, 2016) (This is a summarised and simplified version of the Reserve Bank of India’s Know Your Customer guidelines.) Q1. What is KYC? Why is it required? Response: KYC means “Know Your Customer”. It is a process by which banks obtain information about the identity and address of the customers. This process helps to ensure that banks’ services...

Read More